TradeDirect365 is an Australian broker that offers trading in CFDs, currencies, indices, stocks.
About company. Fund security
TradeDirect365 is a brand of Finsa Pty Limited which is regulated by the Australian Securities and Investment Commission (AFSL No. 422661).
According to ASIC requirements, the minimum capital that brokers must have is AU $ 1,000,000. In addition, regulated companies must report on their activities. Client funds are held in a Level 1 AA bank (Westpac Bank) and are not used for the broker's personal purposes.
A regulator like ASIC is rated by some experts as average in terms of security. However, it is the only supervisory authority on the continent, and over 500 companies are under its authority.
The company offers several types of accounts: personal, corporate, trust and joint accounts.
Spreads and commissions
The broker's commission starts at $ 5. And spreads from 0.8 pips.
For Forex trading, the required margin is usually 0.5% depending on the instrument.
For CFDs, it ranges from 5% for the most liquid stocks to 30% for illiquid stocks. Margin requirements are reduced when stop loss is set at the time of order. The calculation is based on the distance of the current trading price to the stop loss level.
TradeDirect365 has set maximum leverage at 1: 200 on currency pairs. The leverage for CFDs is 1:20. These are not the highest leverage ratios in the industry, but it is worth remembering that high leverage brings not only more income, but also more losses. If you are confident in your abilities and know how to manage risks, you can find brokers with leverage up to 1: 1000 in our rating.
The broker offers to trade on the trading platform of the same name. TradeDirect365 is an intuitive trading app for beginners and professional traders alike.
Clients get access to:
stop loss orders; free demo recording; world stock exchanges for CFD trading; full featured charting program; automatic advisors and experts; your trading statistics.
TradeDirect365 provides access to its main trading platform via iPhone, Android mobile, iPad, Android Tablet and Windows Tablet.
TradeDirect365 also provides access to MT4 and CloudTrade.
The only difference with MT4 versus CloudTrade is the number of global markets you have access to. On MT4 TradeDirect365 you cannot trade individual CFDs. But you can access the Forex, Index Markets and Commodity CFDs.
TradeDirect365 has its own analyst who provides technical analysis reviews on a daily basis. The site also contains educational materials. In addition, several trainings and webinars are offered.
The broker offers professional 24/5 phone and email support, and a live chat function is available from 9:00 to 17:00 Mon-Fri.
Ways of payment
There are several ways to fund an account: bank transfer and Bpay. The broker draws the attention of traders to the fact that it accepts money only from personal accounts of the same name. This requirement is applied in accordance with the ASIC's anti-money laundering regulations.
Finsa Pty Limited can only return money to customers to the bank accounts from which the deposit was made.
TradeDirect365 customers can also use BPAY to deposit funds. You must enter your personal account from a computer or mobile device and follow the instructions to transfer money.
Money is usually credited to the account within 1-2 business days. Broker's main currency: Australian dollars. If you have deposited US dollars or euros, then they will be converted to the base currency.
demo account; regulated broker; selection of trading platforms.
small selection of payment methods.
TRADEDIRECT365 is a brokerage company whose task is to provide intermediary services to traders. Brokers provide access to currency trading in the first place. Many of them also provide an opportunity to transact with company stocks, bonds, commodities, precious metals, indices, cryptocurrencies and other assets. A private person can make transactions with all these instruments only on the trading platform, which the broker provides access to.
In addition, thanks to the brokerage company, an individual can operate on the market with amounts that significantly exceed the size of their own funds. This is called providing leverage. For example, having a deposit of 1,000 USD with a 1: 400 leverage, a trader can make deals for 400,000 USD.
The broker also opens access to analytics, auxiliary tools, and trading signals. Modern trading is impossible without all this.
The broker TRADEDIRECT365 makes profit from traders' transactions, as a rule, in two main ways.
The first is the most common. Using spreads. This word refers to the difference between the best prices for buying and selling a particular asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between a broker and users of the Forex market - another. The mediator takes the difference for himself.
The second way is easier to understand. This is the collection of a commission for each transaction performed. Most often it has a standard value, but it can be measured as a percentage.
Thus, the brokerage company is interested in attracting as many clients as possible and for them to conduct active trading.
We have found out how honest brokers should work and how they work. Now let's look at how scammers operate, they are also called the kitchen.
The most common way to cheat is to tweak quotes. The broker provides the trader with quotes that differ from the real market ones. Data substitution occurs in order to make operations unprofitable. The deposit is reduced, and then completely zeroed out. At the same time, the trader thinks that his operations were carried out in the market, but in fact - only on the site of scammers.
Bonuses are traps. They are generously distributed for anything: for registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money, mixed with bonus money, it will be necessary to fulfill a number of virtually impossible conditions. For example, conduct trading operations for an amount tens of times greater than the size of the deposit.
In the User Agreement, a clause can also be disguised that allows the broker to manage the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points is the place of registration and regulation of the company's activities.
Let's talk about registration first. As a rule, brokers from either their own country or from an economically developed country, for example, a member of the European Union, are more credible to traders. Of course, compliance with UK legislation is reassuring, and compliance with the legislation of an unknown island in the Indian Ocean does not mean anything to most.
However, most brokerage companies are registered offshore. And it's not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are offshore zones popular among brokers. By registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has any claims against such a company, then it is likely that he will have to deal with it in accordance with the legislation of that very conditional Belize. It is possible to be physically present there at the court sessions. And this is extremely expensive and difficult.
But is it worth running like fire from just the word "offshore"? As an answer, we will give the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes through offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point - this is the regulation of the broker's activities. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokerage activities. So, in Russia it is the Central Bank of the Russian Federation. A trader can find permissive documentation on the websites of such bodies. But there are also supranational structures. For example, the International Financial Commission (The Financial Commission), which is an independent self-regulatory organization, considering disputes between its members - brokers and their clients.
If the broker's website does not contain information about the regulation of its activities, then these are almost certainly scammers. Or the site contains information about a certain license issued to him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, study its history. Check out the links to her experts. If one of the leading TV channels in economic news for 5 years in a row refers to the opinion of the analyst of the broker in question, this is good. If a broker claims to have been working for 15 years, but there is no information about him on the Internet at all, this is bad.
It's important to pay attention to company reviews. And read them not only on the website of the broker itself. In the kitchen, they will probably only be laudatory. It is best to browse as many sites as possible.
Pay attention exclusively to the specifics in the offers on the brokers' websites. Honest companies openly write about interest, spread size, minimum deposit, etc. Fraudsters lure with loud, streamlined phrases about a rich tomorrow, stable income, misleading with incomprehensible terms about multi-sites, super functions, and so on.
Find out the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers sometimes hold social promotions. Fraudsters will definitely not do this.
Thus, the process of choosing a broker is complex. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich all over the world.
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Brokers who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the broker. TRADEDIRECT365 received a score of 1 of 5 on our resource.